What About Earnest Money

The Texas Association of REALTORS® has created a very simple and easy to understand explanation about earnest money. We are happy to be able to share this with you today.

Going RETRO With Mom

I was chatting with someone the other day and actually talking about cars - in this case, the Chrysler 300 that I used to drive.

Anyway, in my early days of real estate (either 2005 or 2006) mom used to like to go with me to various functions.

In this picture mom was either 81 or 82 - and ready to go!

Days on Market Drops to New Low

April Brought a New Low to Days on The Market

If you are a seller, the chart inside today’s edition will look quite favorable – if you are a buyer – not! The supply of homes for sale is critically low. Sellers, this is your opportunity to move up, downsize, relocate – whatever you wish to do. It is a great time to order your dream home and have it built to your own specifications. It is not going to get much better than this!

4 Reasons to Sell Now

Many sellers have chosen to get on with their life. The next chapter opened for them in their home of choice. It is a very personal decision, but the time is great. Buyer demand continues, less home inventory (less competition) and prices and interest are predicted to move up. If you are buying up, you can look at higher cost by delaying the purchase of your next home. Seriously, no better time than now!

#1 Reason to List Your House This Summer

There is one undeniable reason to list your home this summer. It is a demand issue. The demand outpaces the available inventory – you as a seller have an opportunity to make money and move on. Homes are needed! Ready to list, call me.

Time for Your First Home?

Wondering If You Can Buy Your First Home?

Not made a decision yet? Perhaps a belief that you must have 20% down? Name any number of reasons for hesitation, but the bottom line is if you do not try, you will not know. More than ever, the phrase “just do it” applies. Talk to a professional and find out if you qualify. If not, find out what you need to do to qualify. You would be receiving the advice of real estate and mortgage professionals who are licensed, trained and do this every day.

I was looking at the chart in today’s report. Single women investing in their own home lead men 18% to 7% of first time buyers. WOW – more than double! Guys – what are you waiting for? The number of unmarried couples buying in is 16% - so ladies, right now you appear to have the lead.

Whatever your situation, if you want to buy a home, call me. Let’s talk about it.

You DO NOT Need 20% Down to Buy

About half of Americans are said to believe you need 20% down to buy a home. YOU DO NOT! Over 60% think you need an excellent credit score. YOU DO NOT! FHA mortgages closed with an AVERAGE score of 676. Wait until you read the next section on how much (I mean how little) money was put down.

Put Down Less Than 6%!

In March 2018, 71% of first time buyers put down less than 20%. 61% put down less than 6%. Seriously folks, you do not need 20% down to get in your own home. Ready now?

Good time to rent?

Is Now a Good Time to Rent?

Take a look inside today’s report. The chart shows median rent in 1988 through 2018. Consider that chart a forecast of the future!

The folks who bought a home under a 30 year mortgage would be done (if there were no loan modifications or additional borrowings). The renter would have been paying the landlords mortgage for 30 years and the holder of a stack of rent receipts - with a bill due next month and the month after and......

Thirty years from now, which one would you rather be?

Homes are More Affordable in 44 States

There was a day when the common belief was that it Is cheaper to rent than it is to buy. I think while growing up, most of my family was convinced that was true.

Today, in 44 states, as calculated by the experts, it is cheaper to rent than it is to buy. The road of opportunity and wealth has opened. The question is – will you take that road. I’ll help if you like.

Cost of Renting vs. Buying

Seems strange that the percentage of income to afford median rent has increased by about 3% - not decreased – increased. It is higher now that it used to be.

On the other hand, the percentage of income needed to afford a median home had dropped about 5%. You read that correctly – a lower percentage of your income is needed to afford a median priced home than it was historically!

So, who is ready to buy today?


Factors to Consider When Choosing A Home to Retire In

So much to consider when buying a home to retire in! Do you want to downsize – trade the larger home for smaller luxury? Do you want to be near family – or away? Perhaps a different climate would work. Besides all of that, other considerations such as maintenance, affordability, the type of community, convenience and so on.

I am not a psychologist, but if you would like to talk it through and review the options from a real estate perspective, I am more than happy to help. It is something we have already done numerous times!

House-Buying Power

Buying Power at Near-Historic Levels

Have a look inside today’s report. Starting the graph in 1991 and comparing house prices through to today, after adjustments, house buying power is greater today than in the past. Click through to the “Real House Price Index”- then call me and let’s get you approved today!

Homes More Affordable Today than 1985-2000

Let’s look at the favorable index in another way – payments. Mortgage payments on the typical American home are less today as a percentage of income than in 1985-2000 and 2006. The job market is good and the housing market has regained a high level of confidence!

Making a Home for the Brave Possible

Have you served your country? Are you eligible for a VA loan? It is one of the most amazing benefits that veterans can look forward to and I look forward to helping veterans get into their dream home. We are pleased to work with mortgage folks who can make that happen for you. Call and let’s just move on it. Make your home your own!

Renovation ROI

Top Home Renovations for Max ROI

There are reasons for renovating a home. They could be for personal enjoyment – or even necessity. They could also be for improving the resale value of your home at some future date.

Whatever your reason, it is worth knowing what renovations will return most of your investment or even just a little bit more. Then there are those renovations which might be for personal enjoyment but will offer little return – and that is not necessarily a bad thing! Consider an investment of $10,000 for which there may be a 50% return – or $5,000. If you live in your home for 10 years, there would be a depreciated cost of $500 a year. You simply decide if having “X” is worth an expense of $500 a year. If it is, go for it! A home is meant to be enjoyed.

However you go about it – remember one very import thing about renovations. Do not renovate your price out of your neighborhood. In other words, if you are in a $200,000 neighborhood, and you make your renovated home hypothetically worth $300,000 – when you go to sell it- guess what is going to happen?

Home Renovation Worth It in the Long Run?

Much like exceeding the price line in your neighborhood, you can also create a white elephant. The example of taking a 4 bedroom home and making it a 3 bedroom or worse yet, a 2 bedroom, can make your house into something that just does not fit the buyer attracted to your neighborhood. When you sell, you may be forced into a deep discount situation – and your buyer may have to be willing to return the home to the number of bedrooms it was before.

Consider selling and moving on to what your new dream home should be.